| Title: | Increase in Employer Contribution to Lay Employees' Pensions |
|---|---|
| ID: | EXC062019.06 |
| Committee: | Finance (report 38) |
| Citation: | Executive Council Minutes, June 10-13, 2019, Linthicum Heights, MD, p. 8. |
| Text: |
Resolved, That, in order to make the contributions to lay and clergy pension savings plans more equivalent, the Executive Council authorizes raising the employer base contribution from 5% to 8% of base salary for all lay employees of the Society, effective July 1, 2019; and be it further Resolved, That, effective July 1, 2019, the Society is authorized to pay for the Medicare supplement premium for spouses of retired lay employees who have served at least 10 years; and be it further Resolved, That, these costs be funded, as needed, from the Executive Council “reserve for lay employee benefit related expenses” during the 2019-2021 triennium and that the costs be included within the budgets adopted by General Convention in subsequent triennia. |
| Supplementary Text: |
